CBEC has issued Notifications to insert provisions relating to GST Payable (CGST/ IGST/ UTGST) by a registered person under Reverse Charge (RCM), in respect of Raw Cotton supplied by the Agriculturist, applicable w.e.f. 15/11/2017, in line with recommendations of the 23rd Meeting of the GST Council held on 10/11/2017, as under:
CBEC Central Tax Rate Notification 43/2017 dt. 14/11/2017: Raw Cotton under RCM from 15/11/2017
CBEC Integrated Tax Rate Notification 45/2017 dt. 14/11/2017: Raw Cotton under RCM from 15/11/2017
CBEC UT Tax Rate Notification 43/2017 dt. 14/11/2017: Raw Cotton under RCM from 15/11/2017
Accordingly, a registered person under GST has to make compliance with RCM where the raw cotton is purchased from an Agriculturist w.e.f. 15/11/2017.